We Buy Houses As-Is For Cash: Tips On Selling A House That Needs Repairs

Colby Hager on September 17, 2022

We Buy Houses As-Is For Cash: Tips On Selling A House That Needs Repairs

Selling a house as-is for cash can be very beneficial for the right homeowner. The benefits of selling as-is when your house is in need of repairs can certainly be attractive. If selling a house as-is seems to be the right way for you to sell, keep reading to find out some tips on selling your house that is in need of repairs.

Why Sell A House That Needs Repairs?

If you own a house that needs repairs, it can be tough to keep up with the maintenance and costs associated with fixing it. Deferred maintenance issues can add up quickly and sometimes selling a house that needs repairs is the most viable and realistic option for a homeowner.

You Want to Sell Fast Instead of Waiting for Repairs

Selling a house as-is for cash can be attractive to many homeowners because it enables them to sell their home quickly. If you need to sell your house fast, then selling as-is may be the best option. Selling as-is also means that you don’t need to wait for repairs to be made before putting the house on the market and waiting for a qualified buyer.

You Don't Have to Deal With Contractors

Another reason selling as-is can be attractive is that you don’t need to deal with contractors. If you’re not interested in dealing with the hassle of finding and managing contractors or deciding on which repairs are actually worth spending money on, then selling your house as-is may be the best option for you.

Once Repairs Are Made, You Have to Wait For a Retail Buyer

Selling a house as-is for cash is often the best option for homeowners who need to sell fast and don’t want to wait for repairs to be completed. Once you’ve made the repairs, you’ll then have to wait for a retail buyer who is willing to pay the full market value of your home. This alone can be quite a process, not to mention waiting for the bank loan process once your house actually goes under contract.

Harder To Determine Pricing After Repairs

Once you’ve made repairs to your house, it can be difficult to price your home accurately. You don’t want to overprice and scare away potential buyers but you also don’t want to underprice and lose out on money that you could have made from the sale. It’s often difficult to find that perfect pricing sweet spot. This is especially true if you were able to make some repairs but not all or if some of the repairs you made were DIY instead of professionally contracted out.

Selling To An As-Is House Buyer

To understand what an as-is house buyer really is, it’s important to understand what it means to sell your house as-is. When a property is sold as-is, it means that the seller is selling the home in its current condition, without making any repairs or improvements. The buyer can assess the current condition of the house but must buy the house without requesting the current owner to make any repairs.

Selling As-Is Tip #1:

Make sure you disclose what you know about the home to a potential buyer. Selling a house as-is doesn’t mean that you can hide information about the property from potential buyers. The goal is to be as upfront and transparent as possible about the condition of your house. You’ll still need to complete any required paperwork and disclosure forms truthfully. This will help avoid any legal issues down the road.

Selling Without Making Repairs Tip #2:

Selling to a professional home buyer can make the process even more simple. A professional home buying company will make you an offer on your house as-is and can close on the sale quickly, often within a week or two. Additionally, they will handle all the sales paperwork and make sure the sale is handled by a reputable title company that is locally operated.

As-Is House Sale Tip #3:

You shouldn’t have to pay closing costs. Most home buying companies offer this as a benefit to working with them. Closing costs are sneaky fees typically charged by the title company that you may not be aware of at the time you agree on the price to sell your house.

When a buyer agrees to pay your closing costs, it can take away some of the mystery. This can wind up saving you thousands of dollars and simplify the transaction because you won’t have any guesswork about your final numbers.

Selling On Your Own Tip #4:

Take the time to know the value of the house in its “As-Is” condition. You can use online tools to get a sense of your home’s worth but take these values with a grain of salt. They are usually estimated values based on if the house is in great shape. However, doing this can help you understand what to expect when selling on your own without making repairs.

Selling A House In Poor Condition Tip #5

Research the cash buyer you work with and check their reviews. There are plenty of reputable home buying companies out there but unfortunately, there are also some that are not as reputable. It’s important to do your due diligence and work with a company that you trust.

Sell Your House As-Is Tip #6

Get more than one offer. When you work with a home buying company, they will likely make you a fair all-cash offer for your house. However, it’s always a good idea to get more than one offer to ensure you’re getting the best possible price for your property and to make sure you get a good feeling from the buyer you choose to work with.

Selling Your House As-Is For Cash: The Bottom Line

Selling a house as-is for cash can be a great option if you need to sell quickly and don’t have the time or money to make repairs. Keep in mind that when selling as-is, it’s important to be upfront and honest about the current condition of your home. If you have any questions about selling your house as-is or would like to learn more about working with a professional home buyer, please contact us today! We would be happy to chat with you about your specific situation and help you figure out the best option for selling your house.

Selling Your House Without A Realtor: The Advantages of Selling To An Investor Instead of Listing the House On The MLS

Colby Hager on August 25, 2022

Selling Your House Without A Realtor: The Advantages of Selling To An Investor Instead of Listing the House On The MLS

Selling a house without a realtor in San Antonio has always been an option for homeowners. However, most people choose to work with an agent to list their property and let the agent try to find a buyer.

You can also list your home yourself and try to find a buyer. Or, you can work with a real estate investor or cash home buyers in San Antonio who will buy your house from you directly… and fast.

Each way has some specific advantages and disadvantages that homeowners should be aware of when they are considering selling a property.

Reasons To Sell Without A Realtor

1) The Costs of the Sale Can Really Add Up

Listing your house can come with a number of expenses home sellers aren’t always ready for. Sellers often find themselves paying for repair costs, staging, cleaning, closing costs, and expensive commissions when the house sells.

There are holding costs including taxes, insurance, utility bills, and routine maintenance to factor in. Before you hire an agent to help you sell your property, make sure you are aware of what you may have to spend. When you run the numbers, you may find that hiring an agent isn’t worth it.

2) Real Estate Agent Showings Can Be A Hassle

If your house is listed on the MLS, you will be expected to make your house available for showings. This means living in a constant state of clean and organized 24/7 until you move out. You may also be asked to leave your home on extremely short notice for a showing if possible, sometimes immediately.

Trying to coordinate property showings with everyone else’s schedule can prove to be challenging. Some sellers find it’s easier if they move out of the home when they put their house on the market because of the hassle of showings, but would you want to be responsible for 2 house payments before you can guarantee the sale of your house?

3) Inspections and Re-Negotiations Are Standard

Once you receive an offer for your house, the buyer will order an inspection. Depending on the property and its condition, the potential buyer will likely request that you make the needed repairs before the sale is finalized. An appraisal can also require the seller to sink money into the house before the bank approves the buyer’s loan. A low appraisal is one of the most common reasons for a sale to fall through. Home sellers should be prepared for this and either have a rebuttal or a repair plan they can quickly execute without breaking the bank.

4) The Sale Isn't Guaranteed

We have purchased houses from many home sellers out there who have listed their houses in the past but have found themselves right back where they were once the listing agreement has expired even in today’s real estate market. When you put your property on the MLS, there is no guarantee it will sell.

Also, there are a number of factors that can cause the sale to fall through. There may be a contingency in the offer stating their house needs to sell before they are able to purchase yours. This means that if their sale falls through, yours will too.

The sale can also fall through if the property doesn’t appraise high enough or if there are repairs required that you were unaware of. Imagine having your house listed on the MLS for several months, finally getting an offer, only to have everything fall through, putting you right back at square one. The listing uncertainty can be almost unbearable for people who need to sell a house fast.

5) The Time On The Market Can Vary

The MLS, or multiple listing service, keeps track of how many days it’s been since you first listed your house for sale on the market. If your house ends up being on the market for more than 60 days, this is not a good sign to buyers. It may indicate that your house is not as desirable as other properties, or that there might be something wrong with it. There may not be anything wrong with your property, but this might stick in the back of the mind of potential buyers.

Maybe you haven’t had a full price offer and are holding out. Whatever the reason, the time on the market counter may work against you.

6) Commissions To Both Realtors Can Be Costly

When you list your house on the market, there are commission fees that are expected from the selling agent and the buying agent. This is usually 6% of the final sale price, which adds up to a large amount of money!

If you are using an agent without using the MLS, you might be able to set a flat fee for less than traditional commission fees but you usually sacrifice all of the knowledge and assistance that comes with paying the higher fees. You normally have to pay up front for a flat fee listing. That means even if your house doesn’t sell, you’ve already paid the commission fee without the chance for a refund.

7) Not All Real Estate Agents Are Equal

There are so many agents to choose from, how are you supposed to know who to choose? Do you pick the person with the most ads? Or do you go with the guy your friend recommended? Not all real estate agents are equal. Some have tons of experience and some are brand new. Some give great customer service and others will leave you wondering if they moved out of town. Making sure you choose the right agent can be difficult to say the least.

Advantages Of Selling To A Local Home Buying Company

Selling your house directly to a local company that buys houses in San Antonio has some major benefits as well as some drawbacks. The benefits of selling direct can be powerful depending on why you need to sell your house.

There are a few drawbacks as well. For one, anyone can be an investor without any formal training or certifications. Someone can just say they’re an investor and they’re an investor… without any additional training. This can be a disadvantage to homeowners who might be looking for help with a unique situation but end up working with an investor who has little to no experience.

One of the biggest complaints buyers have about working with direct buyers in San Antonio is that the offers are usually below market, but this isn’t always the case.

Fortunately, there ARE investors out there who have the skills, knowledge, and experience to help you in your situation, no matter how complicated it is.

1) Local Homebuyers Will Buy Your House On Your Timeline

When you sell to a real estate investor, they can close fast – often in as little as a week or two (it varies, depending on the investor). Since they are buyers, and there’s no searching… you already know who they are so you can sell quickly!

Sometimes, homeowners need more time to move but want the peace of mind that comes with knowing the house will be sold on a guaranteed date. In this case, a professional homebuyer will allow the seller to take the time they need to get their affairs in order prior to the sale.

2) Selling For Cash Means No Repairs Required

Not every house is in pristine condition. That’s okay, it happens. But when you sell to a traditional buyer, you’ll probably have to pay out-of-pocket to fix up the property and clean it before a traditional buyer will even look at your house. But most real estate investors buy houses in as-is condition, which means you can save money and time (and hassle!) by skipping the repair and cleaning.

And if the repairs are really extensive, you won’t have to deal with a contractor, either. Yes, the investor may ask for a small discount on the selling price since THEY are covering the repairs instead of you, but this is a small price to pay to sell quickly and without all the hassle.

3) No Cleaning Needed When You Sell To An Investor

Most people who buy houses for a living have a professional clean-out team. They do not need you to remove all of the personal items that aren’t going to your new home. You won’t have to worry about carpet cleaning, junk removal, sweeping, or any type of clean-up or clean-out at all!

4) Selling Your House To A Company That Buys Houses Means No Annoying Showings

Selling your house the traditional way means having showings that can come at any time, any day. You never know when someone might want to come to look at your house, and you have to be available to let them in.

Showing your house can be really frustrating. You never know when someone might want to come to look at it, and you have to be available to let them in. If you’re not home, then they’ll just have to come back another time.

When you sell your house to a local company like Capstone Homebuyers, there are no frustrating showings. We’ll buy your house as-is, so you don’t have to worry about fixing it up or making it look nice for potential buyers.

5) Cash Offer Homebuyers Don't Charge Fees Or Commissions

You want to sell your home, but don’t want to pay the high fees associated with a traditional sale. Deciding to sell your home to a local home-buying company can save you thousands of dollars in commissions and fees.

Home investors like Capstone Homebuyers will take on all of the closing costs, don’t charge a fee for their service, and there are usually no commissions.

6) A Reputable Company That Buys Houses Won't Re-Negotiate The Sales Price

Professional home buyers do not re-negotiate a sales price. This is a tactic used commonly with traditional sales. A buyer will have a home inspection done and then use the inspector’s findings to justify a price reduction or completion of repairs.

This is why selling your house to a “we buy houses” type of company can be so beneficial. You aren’t going to get hit with a lower price due to an inspection or appraisal. Just keep in mind that some scammy fly-by-night home investors try to use this technique to line their pockets so if this happens to you, go here and read about what to do.

Sell Your House For Cash To A San Antonio House Buyer

Should you sell your house to an investor or through a realtor? The answer really depends on your specific situation. Selling to an investor can have some serious advantages in certain cases, but there are also some questions that come with this option that only you can answer. If you’re looking for a more straightforward transaction with less risk, selling to a home buyer for cash may be the best move for you. Contact us today to learn more about how we can help you sell your house quickly and easily.